TAMPA, Fla., May 26, 2005 (PRIMEZONE) -- Internal Hydro International Inc., (OTCBB:IHDR)(www.InternalHydro.com) announces the completion of the audit and reverse merger process, finalizing the takeover of the publicly traded company by the former private alternative energy entity. The reverse merger review and audit was necessary to finalize the January 2004 transaction that brought control of the public company into the former private company partners. With this lengthy audit process over, IHDR will now be prepared to announce transactions and changes that have occurred to the company's business structure, technology, and leadership.
IHDR CEO Craig Huffman explains, "During the audit process, and for some time, we have made changes in the structure of our company, the consultants we use, engineering, leadership, contracts, international and domestic outlets of our technology, technology improvements, and other aspects that we will now be able to share since the audit process is behind us." Huffman continued, "The audit and reverse merger affirmed what occurred; moving from a shell company, before we arrived, to being an alternative energy company with a superior technology being brought to market, improving the technologies, and expanding our assets with new clean technologies, enriching our shareholders while benefiting the world."
IHDR's core technology, the Energy Commander IV, has been produced in a large scale prototype, which is now being readied for 30kw production units. The technology utilizes waste or unused fluid flows and generates clean energy, producing revenue from electricity, tax credits and environmental credits. IHDR also seeks to expand the energy technologies under its control via other renewable sources.
IHDR filed the results of the audit in the 10-K for 2004, and its 2005, first quarter report. These reports are available on www.sec.gov.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.